US dollar GIC rates in Canada
US dollar GIC rates posted by Canadian banks and credit unions, from 30 days to five years, and how deposit insurance treats a deposit held in US dollars.
What is a US dollar GIC?
A GIC bought with US dollars that pays its interest and returns its principal in US dollars. In this month's table, 12 issuers post a US dollar rate, from 30 days to five years.
The rate follows US dollar interest rates rather than Canadian ones, so it sits on its own curve and has no fixed relationship with a Canadian dollar GIC rate at the same issuer. The Canadian dollar tables are on the GIC rates hub.
Best USD GIC rates in Canada, 1 to 5 years
Meridian Credit Union and Tangerine share the highest one-year and five-year US dollar rates, 4.25% and 4.50%. Below are the 9 issuers posting US dollar terms of one year or longer, ranked by their five-year rate.
| Institution | 1Y | 2Y | 3Y | 4Y | 5Y | Source |
|---|---|---|---|---|---|---|
| Meridian Credit UnionFSRA | 4.25% | 4.45% | 4.50% | 4.45% | 4.50% | meridiancu.ca |
| TangerineCDIC | 4.25% | 4.35% | 4.40% | 4.45% | 4.50% | tangerine.ca |
| FirstOntario Credit UnionFSRA | 4.15% | 4.05% | 4.10% | 4.15% | 4.10% | firstontario.com |
| BMOCDIC | 4.00% | 3.95% | 4.00% | 4.05% | 4.10% | bmo.com |
| CIBCCDIC | 4.00% | 3.95% | 4.00% | 4.05% | 4.10% | cibc.com |
| RBC Royal BankCDIC | 3.90% | 3.95% | 4.00% | 4.05% | 4.10% | rbcroyalbank.com |
| Beem Credit UnionCUDIC | 4.00% | 3.70% | 3.70% | 3.75% | 3.80% | beemcreditunion.ca |
| ATB FinancialGovernment of Alberta | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | atb.com |
| Servus Credit UnionCUDGC | 3.70% | – | – | – | – | servus.ca |
BMO posts these terms as 1 – under 2 years, 2 – under 3 years, 3 – under 4 years, 4 – under 5 years and 5 years exactly.
Tangerine, CIBC and Beem Credit Union also post an 18-month US dollar rate: 4.30% at Tangerine, 4.00% at CIBC and 3.50% at Beem Credit Union.
A dash means the issuer posts no US dollar rate for that term.
USD GIC rates under one year
Tangerine pays the most under a year, 3.80% for its 270 day term. Below are the 11 issuers posting US dollar terms under a year. Each sets its own day ranges, so every cell carries the issuer's own label.
| Institution | 1 mo | 2 mo | 3 mo | 4 mo | 5 mo | 6 mo | 9 mo |
|---|---|---|---|---|---|---|---|
| TangerineCDIC | – | – | 3.45%90 day | – | – | 3.65%180 day | 3.80%270 day |
| VancityCUDIC | 1.75%30–59 days | 1.95%60–89 days | 2.15%90–119 days | 2.40%120–179 days | – | 3.10%180–269 days | 3.75%270–364 days |
| CIBCCDIC | 2.85%1–2 months | – | 3.00%3–5 months | – | – | 3.10%6–8 months | 3.15%9–11 months |
| RBC Royal BankCDIC | 2.80%30–59 days | 2.85%60–89 days | 2.90%90–119 days | 2.95%120–149 days | 3.00%150–179 days | 3.10%180–269 days | 3.15%270–364 days |
| Servus Credit UnionCUDGC | 2.80%30–59 days | 2.85%60–89 days | 2.90%90–119 days | 2.95%120–179 days | – | 3.10%180–269 days | 3.15%270–364 days |
| Coast Capital SavingsCDIC | 2.50%1 to 2 months | 2.60%2 to 3 months | 2.70%3 to 4 months | 2.80%4 to 6 months | – | 3.00%6 to 9 months | 3.10%9 to 12 months |
| FirstOntario Credit UnionFSRA | 2.80%30–59 days | 2.85%60–89 days | 2.90%90–179 days | – | – | 3.00%180–269 days | 3.10%270–364 days |
| BMOCDIC | 2.70%30–59 days | 2.75%60–89 days | 2.80%90–119 days | 2.85%120–179 days | – | 2.90%180–269 days | 2.95%270 days – under 1 year |
| ATB FinancialGovernment of Alberta | 2.60%30 days | 2.60%60 days | 2.70%90 days | 2.70%120 days | – | 2.90%180 days | 2.90%270 days |
| Beem Credit UnionCUDIC | 1.75%30–59 days | 1.95%60–89 days | 2.15%90–179 days | – | – | 2.25%180–269 days | 2.45%270–364 days |
| Tru Cooperative BankCDIC | 0.05%30 to 59 days | 0.10%60 to 89 days | 0.15%90 to 119 days | 0.20%120 to 179 days | – | 0.25%180 to 269 days | 0.30%270 to 364 days |
Are USD GICs covered by CDIC?
Yes, at a CDIC member, up to $100,000 in Canadian dollar equivalent per insured category, combined with the Canadian dollar deposits in that category. At a provincially regulated issuer the provincial guarantee decides, and Meridian Credit Union and FirstOntario Credit Union sit under FSRA, which does not cover foreign currency deposits.
Coverage rules are set by each regulator and change from time to time. They are not part of our monthly rate check, so confirm the current rules with the regulator before relying on them.
Common questions about USD GICs
Are USD GICs insured?
At a CDIC member, yes: 6 of the 12 issuers here are members, and a US dollar GIC counts toward the same $100,000 per category as the Canadian dollar deposits held there, in Canadian dollar equivalent at the date of failure. Beem Credit Union, Vancity, ATB Financial and Servus Credit Union are covered by a provincial guarantee that includes foreign currency deposits. Meridian Credit Union and FirstOntario Credit Union are Ontario credit unions, and FSRA lists foreign currency deposits among those its insurance does not cover.
Which Canadian banks offer USD GICs?
In the Oct 1, 2026 table, 12 issuers post a US dollar GIC rate on their own rates page: Tangerine, Meridian Credit Union, FirstOntario Credit Union, RBC Royal Bank, BMO, CIBC, Beem Credit Union, Vancity, Servus Credit Union, Coast Capital Savings, ATB Financial and Tru Cooperative Bank. Of those, 9 post terms of one year or longer and the other 3 post terms under a year only.
Which bank has the best USD GIC rate?
For five years, Meridian Credit Union and Tangerine both post 4.50%. For one year, Meridian Credit Union and Tangerine both post 4.25%. Under a year, the highest is Tangerine at 3.80% for its 270 day term. Meridian Credit Union is an Ontario credit union, and FSRA does not cover foreign currency deposits.
Is interest on a USD GIC taxable in Canada?
Yes, and it is reported in Canadian dollars. The CRA's general rule converts an amount in a foreign currency at the Bank of Canada rate for the day the amount arises, so the figure on the return depends on the exchange rate as well as the GIC rate. CRA, Income Tax Folio S5-F4-C1
Canadian dollar rates by term: 1-year, 5-year and short-term. A monthly rate alert sends the new table when it is published.
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